Thai Film Industries is planning to build a packing film factory in Bangladesh, which will become the first of its kind in the country.
A total of $40m will be invested in the proposed packing film factory, reported The Financial Express.
Thai Film Industries made the proposal for the construction of factory to Bangladesh Export Processing Zones Authority (BEPZA) and to the board of investment (BoI).
BoI executive chairman S A Samad was quoted by The Financial Express as saying: "We have received a proposal from the Thai company and are working on it. Some of the facilities demanded in the proposal do not seem to be acceptable to us. So we are in negotiation with the company on those issues.
"We are eagerly trying to attract foreign direct investment (FDI) in the country. So relating to the Thai proposal, we will try our best to consider their demands so that the company can invest in the country. Besides, we are also trying to attract FDI from non-traditional sectors which will help reshape our identity in the international arena."
The packaging film that will be produced at the factory will primarily be used by export-oriented factories for packaging exportable goods. The country's demand for such packing items is currently approximately 45,000t a year.
Phase I of the factory is anticipated to meet 50% of the local demand, which will further be increased to 80% after Phase II.
Thai Film Industries produces BOPP, CPP films, polyethylene terephthalate and metalised films used in printing, lamination and adhesive tapes.